Byron King, editor at Paradigm Press, shares his approach to the gold and silver sectors as tensions in the Middle East intensify, also touching on oil and gas.
Overall he sees hard assets becoming increasingly key as global uncertainty escalates.
‘Own gold, own silver — physically own the metal for your own benefit,’ said King.
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
After-tax NPV(8%) of $473M (US$346.6M) and 2.2-year payback from start of production with IRR of 48.8% at US$1,000/mtu WO3
Key Highlights:
Additional Payback Metrics: Payback1 of approximately 2.2 years from commencement of commercial production corresponding to approximately 4.2 years from start of construction under the medium / US$1,000/mtu WO₃2 case.
Capital Efficient Development: Initial capital cost3 of approximately $124.2 million (USD $91 million), with a compact infrastructure layout designed to support efficient underground mining and processing operations.
Strong Annual Cash Flow Generation: Average annual revenue of approximately $252,517 million (US$184,886 million), average annual EBITDA of approximately $142,181 million (US$104,101 million), and average annual free cash flow of approximately $96,279 million (US$70,493 million) over the initial mine plan at US$1,000/mtu WO₃.4
Integrated Infrastructure Design: Project infrastructure includes planned hydro electric power connection, water supply and recycling systems, road access, and paste backfill integration to support operations while minimizing environmental footprint.
Significant Upside Leverage: After-tax IRR of 78.4% and NPV(8%) of $963.8 million (USD $706.4 million) at USD $1,500/mtu WO₃.
Resource Growth Underway: Fully funded 20,000-metre drill program continues to target resource expansion, confidence conversion and potential mine life extension beyond the initial 11-year production plan, targeting resource expansion and confidence conversion.
All amounts in Canadian dollars unless stated otherwise.4
Vancouver, British Columbia–(Newsfile Corp. – March 9, 2026) – Allied Critical Metals Inc. (CSE: ACM,OTC:ACMIF) (OTCQB: ACMIF) (FSE: 0VJ0) (‘Allied‘ or the ‘Company‘) is pleased to provide additional economic and technical detail from the recently announced Preliminary Economic Assessment (‘PEA’) for its 100%-owned Borralha Tungsten Project (‘Borralha’ or the ‘Project’) in northern Portugal. The Project’s previously announced PEA economics remain unchanged.
Roy Bonnell, CEO & Director of Allied, commented: ‘Following the release of our initial Borralha PEA, we received strong investor interest in additional project-level detail. This supplementary disclosure highlights the Project’s capital efficiency, strong annual cash generation and well-developed infrastructure platform. Importantly, the underlying economics of the PEA remain unchanged, while the additional payback presentation provides another useful reference point for investors evaluating project returns and the strong leverage Borralha has to tungsten prices.’
This additional disclosure provides greater clarity on Borralha’s capital efficiency, expected cash flow generation and rapid capital recovery profile. The Borralha PEA outlines a capital-efficient underground tungsten development project within the European Union, demonstrating strong economic returns across a range of tungsten price assumptions and significant leverage to current market prices.
The Borralha PEA continues to demonstrate a technically robust and capital-efficient underground tungsten development project within the European Union. As previously announced, the PEA was evaluated under three pricing frameworks: the Base case of $962/mtu WO₃ (US$704/mtu WO₃), $1,365/mtu WO₃ (US$1,000/mtu WO₃), and $2,049/mtu WO₃ (US$1,500/mtu WO₃), while mine design and cut-off grade selection were developed using a conservative tungsten price assumption of $900/mtu WO₃ (US$659/mtu WO₃). The Company is providing the additional metrics below to facilitate investor understanding of project capital intensity, cash flow generation and payback presentation.
For additional reference, the Company is presenting payback under two different measurement bases. The previously disclosed payback metrics were measured from the start of construction (SC), consistent with standard technical study practice. To facilitate comparison with industry benchmarks, the Company is also providing indicative payback measured from the commencement of commercial production (CCP).
Table 1 – Economic Results (After-Tax)
| Scenario | Price1 | NPV (8%)2 | IRR3 | Payback SC4 | Payback CCP4 |
| Medium | $1,365/mtu (USD $1,000/mtu) |
$473.4M (USD $346.6M) |
48.8% | 2.2 years | 4.2 years |
| Base | $962/mtu (USD $704/mtu) |
$182.7M (USD $134.0M) |
27.2% | 3.8 years | 5.8 years |
| High | $2,049/mtu (USD $1,500/mtu) |
$963.8M (USD $706.4M) |
78.4% | 1.2 years | 3.2 years |
Notes:
Payback measured from the start of construction reflects recovery of initial capital over the full development and operating timeline, while payback measured from the start of commercial production excludes the construction phase and is presented for comparative reference only.
The results highlight significant sensitivity to tungsten price while maintaining positive economics under conservative long-term assumptions.
In the Base Case scenario, tungsten (WO₃) represents approximately 96% of project NPV, with minor contributions from copper (~3%) and tin (<1%), based on NSR contribution. This highlights that the Borralha Project economics are overwhelmingly driven by tungsten.
For reference, current reported tungsten market prices remain materially above the US$1,000 per mtu sensitivity case presented in the PEA, reaching approximately $2,998 per mtu (US$2,195 per mtu) as of March 6, 2026 (Source: Fastmarkets).
Mineral Resource Estimate
This initial PEA is based on the updated Mineral Resource Estimate (‘MRE’ or ‘2025 MRE’) for the Santa Helena Breccia, which were presented in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (‘NI 43-101’) in the Company’s current technical report on Borralha (the ‘Technical Report’) entitled ‘Technical Report on the Borralha Property, Parish of Salto, District of Vila Real, Portugal’, dated effective December 30, 2025, which is published on the Company’s website at www.alliedcritical.com and under its profile on SEDAR+ at www.sedarplus.ca.
Under the 2025 MRE, the Santa Helena Breccia has been tested by 41 drill holes and surface trenching over approximately 400 meters of strike length and to depths exceeding 350 meters below surface. Mineralization remains open along strike and at depth. The cut-off grade of 0.09% WO3was selected based on reasonable prospects for eventual economic extraction under conceptual underground mining and gravity-dominant processing assumptions, including a very conservative tungsten price of USD$ 550/mtu WO₃ and assumed recovery of approximately 80% (for MRE cut-off determination only).
Table 2 -2025 MRE for Borralha (see also Technical Report for further details)
| Clasification | Tonnes (Mt) | Grade (% WO3) |
| Measured + Indicated | 13.0 | 0.21 |
| Inferred | 7.7 | 0.18 |
Initial Capital Allocation and Operational Costs
The Borralha PEA estimates initial capital7 of approximately US$91 million, with sustaining capital8 of approximately US$87 million and total life-of-mine capital9 of approximately US$178 million. The initial capital requirement reflects a compact project design integrating underground mine development, process plant construction and site infrastructure.
Table 3 – Initial Capital Costs
| Category | CAD$M* | US$M |
| Underground development | 21.6 | 15.8 |
| Processing plant | 23.1 | 16.9 |
| Paste backfill plant | 5.9 | 4.3 |
| Surface infrastructure | 6.7 | 4.9 |
| Power connection | 9.8 | 7.2 |
| EPCM / indirect costs** | 16.4 | 12.0 |
| Contingency | 6.0 | 4.4 |
| Tax incentives | 34.3 | 25.1 |
| Subtotal Initial Capital | 123.7 | 91.5 |
*Canadian dollar (CAD) equivalents calculated used a foreign exchange rate of CAD $1.3658/USD.
**EPCM = Engineering, Procurement, and Construction Management.
Certain development expenditures may also qualify for applicable Portuguese investment tax incentives, which could partially offset initial capital expenditures.
Table 4 – Operating Cost10 Breakdown
| Cost Category | US$/t Processed |
| Mining | 41.2 |
| Processing | 13.2 |
| G&A | 5.0 |
| Transport | 0.02 |
| TC/RC* | 0.51 |
| Total Operating Cost** | 59.3 |
*TC/RC = Treatment Changes and Refining Charges. These are fees paid by mining companies to smelters to process raw material concentrate into refined metal.
**Operating costs for life-of-mine used for mine design average approximately US$49/t processed, based on the Sub-Level Long Hole Stoping (SLOS) mining method. Limited areas may utilize Drift & Fill mining, which carries higher unit costs. In the economic model, operating costs are expressed in nominal US dollars and escalated annually for inflation, resulting in an average life of mine operating cost of approximately US$59/t processed, including transportation and treatment/refining charges.
Concentrate Marketing Assumptions
The PEA assumes production of a marketable tungsten concentrate grading approximately 65% WO₃ using a gravity-dominant flowsheet. Concentrate pricing assumptions are based on industry-standard tungsten concentrate marketing structures, incorporating typical 80% payability terms and treatment charges applicable to the tungsten market.
The Project benefits from relatively clean mineralogy dominated by wolframite, which generally reduces impurity-related penalties relative to more complex tungsten concentrates.
Capital Efficiency
The relatively modest initial capital requirement reflects several favourable project characteristics, including:
These factors contribute to a capital-efficient development scenario compared with many global tungsten projects.
Simplified Annual Cash Flow Metrics
The initial Borralha mine plan is expected to generate strong annual cash flow11 supported by life-of-mine average production of approximately 1,708 tonnes WO₃ per annum, a nominal processing rate of 1.4 Mtpa, and an average mill feed grade of approximately 0.20% WO₃.
Table 5 – Cash-Flow11 Table
| Cash Flow Metric | Base Case US$704/mtu WO₃ |
Medium Case US$1,000/mtu WO₃ |
High Case US$1,500/mtu WO₃ |
| Average annual revenue | 131,749 | 184,886 | 274,686 |
| Average annual EBITDA | 53,374 | 104,101 | 189,860 |
| Average annual pre-tax operating cash flow | 40,405 | 91,132 | 176,890 |
| Average annual free cash flow | 35,815 | 70,493 | 128,785 |
| Life-of-mine revenue | 1,449,234 | 2,033,747 | 3,021,554 |
| Life-of-mine free cash flow | 393,973 | 775,428 | 1,416,640 |
Infrastructure and Site Requirements
The Borralha Project benefits from favourable site conditions and access to existing regional infrastructure, supporting a capital-efficient development.
Surface infrastructure has been designed to concentrate industrial and administrative facilities within a compact footprint, minimizing environmental disturbance while ensuring operational efficiency. The process plant, paste backfill facility, workshops, administrative buildings and support infrastructure will be located on a centralized platform adjacent to the orebody.
Access to the site will utilize existing regional roads connected to the municipal road CM1025-2. Dedicated routes for light and heavy vehicles have been designed to ensure safe operations while minimizing earthworks and environmental impact.
A comprehensive water management system has been designed to support mining and processing operations. Water supply is expected to be sourced from local groundwater and surface water resources, with water recycling integrated into the process flowsheet. Three retention basins will provide operational water storage, sedimentation and environmental control.
Electrical power will be supplied through connection to the Portuguese national grid via a planned 60 kV overhead line linking the Borralha substation to the SE Frades (REN) substation over approximately 6.5 km. The design complies with applicable national standards and incorporates environmental protection measures.
The project infrastructure design integrates processing, backfill, water management and power supply systems to support efficient underground mining operations while minimizing environmental impact.
Key Infrastructure Advantages
Ongoing Growth Strategy
The current initial PEA is based only on the Santa Helena Breccia deposit and an initial 11-year production plan. The Company’s fully funded 20,000-metre drill program is underway and is targeting:
The Company intends to continue advancing Borralha through additional drilling, engineering optimization, metallurgical refinement, geotechnical and hydrogeological studies, and progression toward the next stage of technical study.
Qualified Persons
The scientific and technical information contained in this news release has been reviewed and approved by the following Qualified Persons, as defined under NI 43-101:
J. Douglas Blanchflower, P.Geo.
Mr. Blanchflower is an independent Qualified Person under NI 43-101 and was retained by Allied Critical Metals Inc. to prepare the NI 43-101 Technical Report dated effective December 30, 2025. He has overall responsibility for the 2025 MRE and the Technical Report. Mr. Blanchflower is a Registered Professional Geoscientist in good standing with the Association of Professional Engineers and Geoscientists of British Columbia (No. 19086) and has more than five decades of experience in mineral exploration, resource estimation, and technical reporting. Mr. Blanchflower has reviewed and approved the scientific and technical information in this news release relating to the mineral resource estimate.
David Castro López, BSc, MIMMM, QMR
Mr. Castro López is a Mining Engineer and a Professional Member (MIMMM #685484) and Qualified for Minerals Reporting (QMR) of the Institute of Materials, Minerals and Mining (IOM3). He is independent of the Company and the Borralha Project. Mr. Castro López contributed to the metallurgical review and process design considerations supporting the PEA and takes responsibility for the metallurgical and mineral processing information contained herein. Mr. López has reviewed and approved the scientific and technical information in this news release relating to the metallurgical and mineral processing information contained herein.
Miguel Cabal, EurGeol, Licensed Geologist
Mr. Cabal is a licensed geologist with the European Federation of Geologists (EuroGeol #1439) with over 28 years of experience in mineral exploration, resource evaluation and mine development. He is Managing Director of Geomates (Spain) and has contributed to multiple NI 43-101 and JORC-compliant technical reports, including PEA, PFS and feasibility studies. Mr. Cabal is independent of Allied Critical Metals Inc. and the Borralha Project and has reviewed and approved the mining and economic components of the PEA. Mr. Cabal has reviewed and approved the scientific and technical information in this news release relating to the mining and economic components of this news release.
Vítor Arezes, BSc, MIMMM, QMR
Mr. Arezes is Vice President Exploration of Allied Critical Metals Inc. and a Qualified Person under NI 43-101. He is not independent of the Company due to his role as an officer. Mr. Arezes has extensive experience in tungsten and polymetallic mineral systems and has conducted multiple site visits to the Borralha Project, including during the 2025 drilling campaign. He contributed to geological interpretation, exploration oversight, and technical review supporting the PEA. He is a member of the Institute of Materials, Minerals and Mining (MIMMM #703197) and a Qualified Mineral Resources and Ore Reserves Professional (QMR), and by reason of education, professional experience, and accreditation, meets the definition of a Qualified Person as defined in NI 43-101. Mr. Arezes has reviewed and approved all of the scientific and technical information in this news release.
About Allied Critical Metals Inc.
Allied Critical Metals Inc. is a Canadian-based mining company focused on the advancement and revitalization of its 100%-owned Borralha Tungsten Project and the Vila Verde Tungsten Project in northern Portugal.
The Borralha Project is one of the largest undeveloped tungsten resources within the European Union and benefits from a favourable Environmental Impact Declaration (DIA), positioning the Project for advancement toward feasibility and development. Vila Verde represents additional exploration upside within the same strategic jurisdiction.
Tungsten has been designated a critical raw material by the United States and the European Union due to its strategic importance in defense, aerospace, manufacturing, automotive, electronics and energy applications. Currently, China, Russia and North Korea account for approximately 87% of global tungsten supply and reserves, highlighting the importance of secure western sources.
Further details regarding the Borralha Project are available in the Company’s NI 43-101 Technical Report dated December 30, 2025, filed on SEDAR+ at www.sedarplus.ca and on the Company’s website at www.alliedcritical.com.
ON BEHALF OF THE BOARD OF DIRECTORS
‘Roy Bonnell’
CEO and Director
Additional information is also available by contacting the Company:
Dave Burwell
Vice President, Corporate Development
daveb@alliedcritical.com
Tel:403-410-7907
Toll Free: 1-800-221-0915
Please also visit our website at www.alliedcritical.com.
Also visit us at:
LinkedIn: https://www.linkedin.com/company/allied-critical-metals-inc/
X: https://x.com/@alliedcritical/
Facebook: https://www.facebook.com/alliedcriticalmetals/
Instagram: https://www.instagram.com/alliedcriticalmetals/
The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this release.
Cautionary Statement Regarding Forward-Looking Information
This news release contains ‘forward-looking information’ within the meaning of applicable Canadian securities laws (‘FLI‘). FLI in this release includes, without limitation, statements regarding: (A) the PEA results and economic indicators (e.g., NPV, IRR, payback and related sensitivities); (B) the conceptual mine plan and operating framework (mining approach, processing rates, production profiles, cost ranges and schedules); (C) the technical basis and process assumptions (cut-off approach, flowsheet concept and anticipated concentrate specifications); (D) the status and trajectory of permitting and approvals, infrastructure access and other site requirements; (E) market-related assumptions and the Project’s sensitivity and leverage to commodity pricing; (F) growth, conversion and expansion opportunities, including planned drilling and other technical programs; (G) the anticipated sequence of future studies, potential financing pathways and indicative timelines; and (H) the Project’s strategic positioning relative to regional and policy objectives. Such FLI is identified by, among other things, words such as ‘plans’, ‘expects’, ‘is expected’, ‘aims’, ‘budget’, ‘scheduled’, ‘estimates’, ‘forecasts’, ‘intends’, ‘anticipates’, ‘potential’, ‘target’, ‘opportunity’, ‘may’, ‘could’, ‘would’, ‘might’, ‘will’ and similar terminology, as well as statements regarding outcomes that ‘will’, ‘should’ or ‘would’ occur.
Material assumptions underlying the FLI include, but are not limited to: the accuracy of the 2025 MRE; geological continuity; the PEA-level capital/operating cost estimates (with typical PEA accuracy ranges); metallurgical recoveries and process performance consistent with test results to date; availability of labour, equipment and consumables at quoted/priced levels; access to grid power and water on contemplated terms; the ability to obtain land access, permits and approvals (including RECAPE) in a timely manner; tungsten pricing consistent with Argus long-term forecasts or stated sensitivity cases; foreign exchange and inflation consistent with study inputs; and availability of financing on acceptable terms. The Company believes these assumptions are reasonable as of the date hereof, but no assurance can be given that they will prove correct.
The PEA is preliminary in nature and includes Inferred Mineral Resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as Mineral Reserves. There is no certainty that the PEA results will be realized. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability. Any reference to potential production, mine life, NPV, IRR, payback, costs, recoveries, or other economic or technical parameters is preliminary and conceptual.
Key risks and uncertainties that could cause actual results to differ materially from those expressed or implied by the FLI include, but are not limited to: (i) exploration, geological, modelling and grade-continuity risks, including the risk that further work does not confirm Inferred material or resource extensions; (ii) risks that metallurgical performance, WO₃ recoveries, concentrate quality or processing costs differ from test work and assumptions; (iii) capital cost escalation, schedule delays, contractor availability and supply-chain constraints; (iv) operating cost inflation (power, reagents, labour, transportation); (v) commodity price and FX volatility (including sustained periods below the Argus long-term or sensitivity prices assumed); (vi) permitting, environmental, social, community, land access and regulatory risks in Portugal (including RECAPE outcomes and permit conditions); (vii) water, tailings and geotechnical/hydrogeological risks inherent in underground operations; (viii) offtake, marketing and market-access risks for tungsten concentrates; (ix) availability and cost of equity, debt or project finance on acceptable terms; (x) changes in laws, regulations, taxes, royalties, or government policies; and (xi) other risks described under ‘Business Risks’ in the Company’s most recent MD&A and in other continuous disclosure filings available on SEDAR+. Readers are urged to carefully review those risk factors, which are expressly incorporated by reference into this cautionary note.
Non-GAAP Financial Measures
The Company has included certain non-GAAP financial measures in this press release. These financial measures are not defined under International Financial Reporting Standards (‘IFRS‘) and should not be considered in isolation. The Company believes that these financial measures, together with financial measures determined in accordance with IFRS, provide investors with an improved ability to evaluate the underlying performance of the Company. The inclusion of these financial measures is meant to provide additional information and should not be used as a substitute for performance measures prepared in accordance with IFRS. These financial measures are not necessarily standard and therefore may not be comparable to other issuers.
Net Present Value (NPV) – is the present value calculation of net profit from operations determined using a particular discount rate. All NPV values stated herein are on an after tax basis.
Internal Rate of Return (IRR) – is a financial metric used to assess an investment’s profitability by calculating the annual rate of return that makes the NPV of all cash flows (both positive and negative) equal to zero.
Payback – is calculated in years as the length of time that it takes to pay off the capital costs from annual net profit expected from operations at the Borralha Project.
Initial capital – is the initial capital cost amount required to be expended to construct the mine and tungsten concentrator process equipment and buildings to begin processing mineralized material into saleable tungsten concentrate at commercial quantities according to the life of mine plan at the Borralha Project. Table 3 above provides a breakdown of the initial capital costs. This is an estimate accurate to +/-35%.
Sustaining capital – is a supplementary financial measure which reflects cash basis expenditures which are expected to maintain operations and sustain production levels at the Borralha Project.
Capital costs or Total life of mine capital costs – include the Initial capital and the sustaining capital.
Operating costs – are the costs required to process mineralized material into saleable tungsten concentrate at the Borralha Project. This includes: underground mining; processing and plant operations; general and administrative costs; and site services and infrastructure support (see Table 4 above for a breakdown of the operating costs). This can be calculated on the unit basis per mtu WO3 produced.
Cash flow – includes average annual revenue, average annual EBITDA (earnings before interest, taxes, depreciation and amortization), average annual pre-tax cash flow, average annual free cash flow, life of mine revenue, life of mine free cash flow. Average annual revenue is the average annual gross revenue over the life of mine. Average annual EBITDA is the average annual EBITDA over the life of mine. Average annual pre-tax cash flow is the average over the life of mine of the annual free cash flow prior to deduction of taxes. Life of mine revenue is the total gross revenue over the life of mine. Life of mine free cash flow is the total free cash flow over the life of mine. Free cash flows are revenues net of operating costs, royalties, working capital adjustments, capital expenditures and cash taxes. The Company believes that this measure is useful to readers in assessing the Company’s ability to generate cash flows from Borralha.
All-In Sustaining Costs (AISC) – are comprised of sustaining capital expenditures and site level costs to support ongoing operations and closure costs. All-in sustaining costs per mtu WO3 is calculated as AISC divided by the amount of mtu WO3 produced during the period that the costs are incurred. All-in sustaining costs capture the important components of the Company’s production and related costs and are used by the Company and investors to understand projected cost performance at the Borralha Project. Adoption of the all-in sustaining cost metric is voluntary and not necessarily standard, and therefore, this measure presented by the Company may not be comparable to similar measures presented by other issuers. The Company believes that the all-in sustaining cost measure complements existing measures and ratios reported by the Company. All-in sustaining cost includes both operating and capital costs required to sustain WO3 production on an ongoing basis. Sustaining operating costs represents expenditures expected to be incurred at the Project that are considered necessary to maintain production. Sustaining capital represents expected capital expenditures comprising mine development costs, including capitalized waste, and ongoing replacement of mine equipment and other capital facilities, and does not include expected capital expenditures for major growth projects or enhancement capital for significant infrastructure improvements.
1 Payback is a Non-GAAP measure. See notes below for additional information regarding payback.
2 mtu/WO3 = metric tonne unit of tungsten; WO3 is tungsten trioxide.
3 Initial capital cost is a Non-GAAP measure. See Table 3 below for a breakdown of the costs and the notes below for additional information regarding initial capital cost.
4 Average annual revenue, average annual EBITDA, and average annual free cash flow are Non-GAAP measures. See notes below for additional information.
5 NPV(8%) = net present value at a 8% discount rate. NPV is a Non-GAAP measure; see notes below for additional information regarding NPV. USD = United States dollars. Canadian dollar (CAD) equivalents calculated used a foreign exchange rate of CAD $1.3658/USD.
6 IRR = internal rate of return. IRR is a Non-GAAP measure; see notes below for additional information regarding IRR.
7 Initial capital cost is a Non-GAAP measure. See Table 3 above for a breakdown of the costs and the notes below for additional information regarding initial capital cost.
8 Sustaining capital is a Non-GAAP measure. See notes below for additional information regarding sustaining capital.
9 Total life of mine capital cost is a Non-GAAP measure. See notes below for additional information regarding total life of mine capital cost.
10 Operating cost is a Non-GAAP measure. See Table 4 for a breakdown of the Operating Costs and the notes below for additional information regarding Operating Cost.
11 Cash flow is a Non-GAAP measure. See Table 5 for a breakdown of the cash flow and the notes below for additional information regarding cash flow.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/287858
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Everyone watches women’s sports, as evidenced by the latest Unrivaled season.
Stewart, who co-founded the 3-on-3 women’s pro basketball league with Napheesa Collier, praised Unrivaled’s growth after the second season concluded with her winning championship MVP. The league generated $45 million in revenue and reached over 1.2 billion fans digitally. Merchandise revenue also increased 130% from Season 1.
‘We’re really proud of the success that we’ve had from year one to year two. … We’re proud of the product that we’ve been able to create,’ Stewart during her Team USA media availability on March 6. ‘Know that we just want to continue to build a space that’s growing and evolving for women’s professional basketball players.’
The Mist punched its ticket to the final with a 73-69 comeback semifinal win over Paige Bueckers and Breeze BC in front sold-out crowd of 18,261 at Barclays Center on March 2. Mist BC’s win followed Phantom BC’s 83-75 victory over Vinyl BC. The semifinals not only drew in a star-studded crowd, including the likes of UConn guard Azzi Fudd, NBA legend Carmelo Anthony and Issa Rae, the matchups brought in 232,000 viewers on TNT.
‘Shout out to the fans really for coming in and showing up and supporting us,’ Stewart said on March 6. ‘Obviously Brooklyn was less than a month notice for anyone to be able to come, but I was really excited … we were able to come back because we never gave up, but also we got the crowd and the momentum on our side and that’s a turning point when you’re a player.’
The Brooklyn stop produced more than $1.5 million in revenue from tickets and merchandise. Unrivaled also had a tour stop in Philadelphia during the regular season with a sold-out crowd of 21,490 which generated $1.4 million in revenue.
Unrivaled’s Philadelphia stop in January also sparked a 35% growth in viewership. The two games were part of the eight most-watched broadcasts of the season. Rose BC star Kahleah Copper said it was ‘cool’ playing professionally in her hometown.
‘I took (my teammates) to North Philly,’ Copper said during her Team USA media availability. ‘We actually walked from where I grew up, the park I played at, we walked to my Philly home. … We took a stop at where I first started hooping outside and then our last stop was at the house.
‘I was able to share a little piece of me with them.’
Viewership grew throughout the season, with nearly an 80% increase from opening night to the championship game on March. Ratings were slightly down from last year’s final (364,000 viewers), but the championship was the most-watched game of the season.
‘The Phantom and the Mist were the only teams that missed the playoffs (in 2025), then the following year in the championship. I thought that was really cool,’ Stewart pointed out. ‘(My teammates) were so excited to have the goggles moment. They just wanted to wear the goggles and pop the champagne and that type of thing. And it makes you appreciate the little things and all the celebrations and all the hard work behind it.’
Overall, Unrivaled averaged 185,000 viewers on TNT for games that didn’t air in direct competition with College Football Playoffs, NFL Playoffs or the 2026 Winter Olympics. That average is 16% below last year’s average.
Reach USA TODAY National Women’s Sports Reporter Cydney Henderson at chenderson@gannett.com and follow her on X at@CydHenderson.
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The 2026 NCAA Tournament hasn’t started yet, but the men’s college basketball coaching carousel is already spinning.
As of Monday, March 9, three jobs are already open — Kansas State, Georgia Tech and Boston College — with Arizona State and Providence reportedly set to follow. They aren’t blue-blood jobs, but some of them should be intriguing to potential candidates, while others are a daunting task to take.
As Power coaching positions become more available, here’s a ranking of them from being great opportunities to tough jobs.
The best coaching job available in the country is one of the first ones that opened up. Kansas State isn’t the basketball power in-state rival Kansas is, but the Wildcats do have their own pedigree that makes it desirable.
The Wildcats have shown money isn’t an issue, whether its spending on the staff or roster. Being in the upper half of available resources will be attractive to candidates.
There’s enough history to show it won’t be impossible to succeed in Manhattan. Jerome Tang took Kansas State to the Elite Eight just three years ago and the past three coaches have reached that stage of March Madness at least once. The only downside is there’s the immediate expectation to contend in a crowded Big 12, but everything is available to do it.
It feels like ages ago Georgia Tech was 40 minutes away from a national championship in 2004. It’s only won two games in four NCAA Tournament appearances since.
What’s been the problem is the entire college basketball world ran past the Yellow Jackets while it stood still. It hasn’t poured funds toward the program, Damon Stoudamire didn’t adapt and it led to some down times for a team that shouldn’t be as bad as it’s been. It does have history it can lean on, and is right in a major hotbed for talent in Atlanta. Its next coach would need to make that a priority to keep local talent close.
Bobby Hurley couldn’t get the Sun Devils acclimated to the Big 12, winning just 11 conference games in two seasons, leading to his potential departure after 11 seasons in Tempe.
The Arizona Republic reported two people close to the ASU program said the news of Hurley’s exit was ‘premature.’
Hurley is at the end of his contract, and the school did not offer an extension, leaving his future in limbo for the 2025-26 season. That is usually a sign that the school intends to move on.
Tempe has been a tough place to coach, with no Sweet 16 appearance since 1995. Its in-state rival Arizona is a major player, and the Big 12 move only made it harder to navigate. However, there are pieces that make it possible to get out of the shadow of the Wildcats.
First, the location is a major bonus, in a top market that can generate revenue. The athletic department has shown an investment in sports — largely football and women’s basketball — and a reset is what men’s basketball needs. The fan support is pretty solid for a middling program, and would explode with actual success. Look no further than the excitement Molly Miller has generated on the women’s side.
Even though Arizona State hasn’t been to the tournament since 2023, there’s plenty available for the next coach to find some success it has been seeking since the turn of the century.
It’s always interesting to see how schools where college basketball is king handle searches, especially in the Big East. Providence will reportedly be on the hunt again, trying to get itself out of the bottom half of the conference.
The Friars aren’t major title contenders, but they have history that shows it can be a successful program, evident in the 2022 Sweet 16 run. NCAA Tournament spots should be consistent. Providence is 47-51 in English’s three seasons. When you have rivals like Connecticut, St. John’s and Villanova miles ahead, it makes it very difficult to climb the standngs.
The money appears to be there for the Friars, and they have a loyal fan base that makes things a bit easier for a new coach. You just can’t help but wonder if it’s going to be a multi-year task to get back to the expected contending level.
It is quite the task to be in charge at Boston College.
The Eagles haven’t been much of a contender in nearly two decades. Their last NCAA Tournament appearance was in 2009, one of the longest droughts of any Power conference school. Basketball hasn’t been a priority in Chestnut Hill. There aren’t NIL funds or huge amounts of money coming in for staff. There’s also the added task of having to get people to just show up to games, as Conte Forum often resembles a ghost town.
If there’s one positive, Boston College is still in the ACC so that should draw some interest. But it comes with a major warning label: It doesn’t get much tougher than this.
The World Baseball Classic enters a decisive day Tuesday, March 10 with the group finale for some of the top contenders and spots in the quarterfinals to be secured.
Japan faces Czechia in the early in the game (6 a.m. ET) looking to finish undefeated in pool play. In the evening, Puerto Rico and Canada face off at 7 p.m. ET before Team USA (3-0) faces Italy (2-0) with the chance to clinch the top spot in Pool B.
The Netherlands and Israel also face off in Miami, but both teams have already been eliminated with the Dominican Republic and Venezuela assured quarterfinal spots from Pool D.
Here’s a look at today’s slate:
Buy 2026 WBC tickets
Stream the World Baseball Classic on Fubo
The 20 teams are divided into four groups. They are:
Teams play one game each against the other four teams in their pool. The top two teams from each pool advance to the knockout rounds in Houston and Miami. Teams are re-seeded after the quarterfinals.
Teams that remain tied in the standings following round robin play will be seeded based on the following criteria:
Pool play games will occur from March 4 to March 11. Quarterfinals begin on March 13. The semifinals begin March 15.
The championship game is set for March 17 in Miami.
Michigan was the big winner of the 2025-26 season Big Ten men’s basketball season. The Wolverines won the league by four games and added to its dominance with Yaxel Lendeborg being named Big Ten Player of the Year by a panel of USA TODAY Network voters. It was a near unanimous selection with Lendeborg receiving 15 of 16 votes.
He was, however, the only unanimous first team All-Big Ten selection. Illinois’s Keaton Wagler appeared on the first team in 15 of the 16 ballots.
Lendeborg also took home Big Ten Newcomer of the Year, ahead of Wagler, while Michigan’s Aday Mara was voted Big Ten Defensive Player of the Year.
Nebraska’s Fred Hoiberg edged Michigan’s Dusty May for Big Ten Coach of the Year.
The Big Ten Tournament begins Tuesday in Chicago.
Here are the All-Big Ten first and second teams and postseason awards as voted on by USA TODAY Network reporters who cover the conference.
* denotes unanimous selection
FIRST TEAM
SECOND TEAM
Also receiving votes: Hannes Steinbach (Washington), Morez Johnson Jr. (Michigan), Tyler Bildeau (UCLA), David Mirkovic (Illinois), John Blackwell (Wisconsin), Fletcher Loyer (Purdue), Jaxon Kohler (Michigan State).
Michigan’s Yaxel Lendeborg was a near unanimous pick for Big Ten Player of the Year. The UAB transfer didn’t post monster numbers (14.7 ppg, 7.2 rpg, 3.2 apg), but he’s the best player on the conference’s best team.
‘If he’s not Big Ten Player of the Year, then I’ll be shocked,’ Wolverines coach Dusty May said Monday.
Well Dusty, all is right in the world.
Iowa’s Bennett Stirtz and Purdue’s Braden Smith received the other two votes.
This was the closest vote as Nebraska’s Fred Hoiberg edged Michigan’s Dusty May by three votes.
The Cornhuskers (26-5, 15-5) were predicted to finish 15th in the Big Ten preseason rankings and will enter the conference tournament as the No. 2 seed.
Nebraska is the only Power conference team to never win a game in the NCAA Tournament, but it looks like Hoiberg’s group may be the one to break that duck.
Wisconsin’s Greg Gard also received a vote.
Yaxel Lendeborg wins this one, too, though Illinois freshman Keaton Wagler received a decent amount of consideration. Lendeborg arrived via the transfer portal after winning back-to-back American Conference Defensive Player of the Year honors and consecutive first-team all-league picks.
Michigan’s Aday Mara won the vote for Big Ten Defensive Player of the Year, with Nebraska’s Sam Hoiberg and Mara’s Michigan teammates Morez Johnson Jr. and Yaxel Lendeborg also receiving votes.
Mara averaged a Big Ten-best 2.6 blocks per game, tied for fifth-best in the nation, and added 6.9 rebounds per game.
Voters for Big Ten postseason awards included: Tony Garcia (Detroit Free Press), Chris Solari (Detroit Free Press), Sam King (Lafayette Journal & Courier), Adam Jardy (Columbus Dispatch), Zach Osterman (IndyStar), Nathan Baird (IndyStar), Tyler Tachman (Des Moines Register), Chad Leistikow (Des Moines Register), John Steppe (Milwaukee Journal Sentinel), Graham Couch (Lansing State Journal), Connor Earegood (Detroit News), James Hawkins (Detroit News), Michael Niziolek (Bloomington Herald-Times), Chris Hansen (Eugene Register Guard), Austin Curtright (USA TODAY Network), John Leuzzi (USA TODAY Network).
HOUSTON — If this were a year ago, Cy Young winner Tarik Skubal would be staying with Team USA and available to pitch in the potential World Baseball Classic championship game.
If this were next year, and Skubal was already signed to the richest pitching contract in baseball history, he wouldn’t have a second thought about staying around.
But this is 2026, and after two sleepless nights and emotional conversations with virtually every USA teammate, and heart-to-heart talks with agent Scott Boras and future Hall of Famer Justin Verlander, Skubal stuck with his original plan.
He’s leaving Team USA on Tuesday to rejoin the Tigers in Lakeland, Florida and will return only as the biggest cheerleader if they advance to the semifinals and finals in Miami.
“Obviously, when I got here,’ he said, “my emotions kind of changed a little bit. My thought process changed a little bit. I tried to make it work, but just couldn’t.
“I hate it.’
When asked if he was at peace with the decision, he shook his head.
“No,’ he said, “I’m still not. The only way I’ll be at peace with it is in Miami after we win the whole [expletive] thing. It’s a tough decision, you know. It’s hard. It’s really hard. I’ve been trying to make it work.
“I love America. I love our country. I love everything that this tournament’s about.’
Simply, with a $400 million-plus payday awaiting him, along with the pitching schedule not lining up for him to start opening day for the Tigers, he couldn’t let his emotions overcome his judgement.
“I think the resounding message from all of the guys was, ‘Make sure to take care of yourself and your family,” Skubal said. ‘We support you no matter what happens.’ I appreciate that because these are the guys you want to go to war with. These guys grind. They care. I love it.
“The preparation has been unbelievable to watch and push myself to be a better version of myself, so that’s something that I’ll take for the rest of my life.’
Skubal also was provided plenty of research from Boras and his staff showing that arm injuries typically happen in spring training, and right after the All-Star break. The idea of risking an injury that could derail his massive payday was too great to ignore.
“A lot of that risk and injury stuff is kind of where I drew the line of like, ‘there’s a lot of risk associated in that,’’ Skubal said, “and then you put in the adrenaline … there’s just a big jump in workload.
“Just being smart. Obviously, I know what the season means, too.’
Team USA will now stick with its original plan of having NL Cy Young winner Paul Skenes pitch in the semifinal game, with New York Mets’ second-year starter Nolan McLean pitching the potential championship game.
“We were always under the assumption that he was going to leave after pool play’’ USA manager Mark DeRosa said. “I know that kind of got clouded a little bit because getting on the mound in the USA jersey, being in the room with these guys, is special.’
DeRosa talked with Skubal for about 45 minutes during their workout Sunday, but his coaches and teammates wanted to give Skubal room to make up his own mind.
“I can’t be the reason they’re sitting in the room,’’ DeRosa said. “That’s just too much. I would be worried about every pitch he throws. I know what’s at stake for him. I’m over the moon he decided to show in the first place for us and take the ball for us. I think it meant a lot to a lot of guys in that room. We know where his heart is. If he was in a different situation, he wouldn’t be leaving.
“But I also understand that 99.9% of the guys, if given his ability to get to free agency and just generational wealth on the table, and everything he’s got in front of him, a chance to win three Cy Youngs in a row. … I was proud that he even showed for us.’
There wasn’t a single player on Team USA that voiced any disappointment that Skubal is departing as originally planned.
“Tarik’s awesome, awesome human being, awesome player, one of the best pitchers in the world,’ USA third baseman Alex Bregman said. “And we kind of all understand the situation that he’s in. Whatever decision he was going to make, we fully have his back.
“We were thankful that he even showed up to pitch a single inning for us. We know where his heart is. We know how tough a decision it is to make.’
Skubal, who spoke to the Tigers and USA officials who were all on board with the original plan of pitching once for about 50 pitches, but the plan became muddled once he started hanging around his teammates, putting on the USA jersey and taking the mound Saturday against Great Britain.
The experience was nothing like he possibly envisioned.
“It blew it out of the water,’ he said. “I had no idea. I just assumed it would be like an All-Star Game type of vibe, and it’s absolutely not. It couldn’t be further than that. …
“It was awesome. I loved it. It makes you really proud to be an American.’
Skubal realizes he can’t control the narrative for those upset or angry he’s leaving the team, but is comforted by his teammates’ support, knowing that if they were in his situation with that payday awaiting, most would be making the same decision.
“They understand how badly I want to keep competing and keep playing with this team,’ he said. “I respect everybody here and I respect everybody in Lakeland. I think that feeling is mutual. So it means a ton, you know.
“I really care about what my peers say, and the fact that my peers have my back, it means the world to me.’
South Harz Potash Limited (SHP:AU) has announced A$1.25 Million Placement to Advance Copper-Gold Exploration
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CALGARY, AB / ACCESS Newswire / March 9, 2026 / Valeura Energy Inc. (TSX:VLE,OTC:VLERF)(OTCQX:VLERF) (‘Valeura’ or the ‘Company’) announces completion of a successful infill drilling campaign at its Gulf of Thailand Manora field (Block G1/48, 70% operated working interest).
Dr. Sean Guest, President and CEO commented:
‘Our Manora drilling campaign illustrates that we can continue adding to the ultimate production potential of our Gulf of Thailand fields. Our approach is to take every opportunity to appraise potential future development locations while developing known reservoir intervals. We have once again delivered new production from the field and also laid the basis for further development in the future.’
Valeura successfully drilled a campaign comprised of two infill development targets and one appraisal well from the Manora A platform. All wells were successful, and notably the appraisal well was found to be optimally positioned for use as a production well. As a result, all three wells have been completed as oil producers and are now on stream. Manora’s oil production has increased from an average of 1,950 bbls/d prior to the first new well coming onstream, to a more recent average of 2,626 bbls/d (working interest share oil production before royalites)(1).
Valeura’s management expects that the newly encountered reservoir intervals will be considered in the next evaluation of reserves and could therefore be additive to the ultimate potential and economic life of the asset.
MNA-41 was drilled as a deviated appraisal well to evaluate the potential of two reservoir intervals. The well encountered oil pay in the 300-series sand reservoir, which will be analysed to identify future prospects in this zone. In addition, the well encountered five oil pay zones in the 400/500-series reservoir. It has been completed as a comingled oil producer and is now on production. Results have exceeded management’s expectations, which sought only to assess the potential for future development of these intervals.
MNA-35ST1 was drilled as a sidetrack to the pre-exisitng MNA-35 well, with the objective of developing the same two reservoir intervals access in MNA-41. Two pay zones were encountered in the 300 sands, which will be completed for production in the future. In the meantime, the well has been completed as a producer of five oil pay zones within the 400/500 reservoir sands and is now on production.
MNA-42H was geo-steered as a horizontal development well within the 300 series sand reservoir. The well’s 1,046 ft lateral section encountered 556′ of net oil pay, which has exceeded management’s expectations. The well has been completed and is now online as a horizontal oil producer.
The Manora drilling campaign was completed safely, on time, and on budget. Valeura’s contracted drilling rig has now been mobilised to the Nong Yao field on block G11/48 (90% operated working interest) where the Company is planning to drill a production-oriented campaign from the Nong Yao A and Nong Yao B wellhead facilities.
(1) 15-24 February 2026 vs 03-12 February 2026.
Future Disclosure
Valeura intends to release its audited financial results for the year ended 31 December 2025, along with its annual information form for 2025 and its estimates of reserves and resources in accordance with the requirements of National instrument 51-101 – Standards of Disclosure for Oil and Gas Activities on 18 March 2026.
For further information, please contact:
|
Valeura Energy Inc. (General Corporate Enquiries) |
+65 6373 6940 |
|
Valeura Energy Inc. (Investor and Media Enquiries) |
+1 403 975 6752 / +44 7392 940495 |
Contact details for the Company’s advisors, covering research analysts and joint brokers, including Auctus Advisors LLP, Beacon Securities Limited, Canaccord Genuity Ltd (UK), Cormark Securities Inc., Research Capital Corporation, Roth Canada Inc., and Stifel Nicolaus Europe Limited, are listed on the Company’s website at www.valeuraenergy.com/investor-information/analysts/.
About the Company
Valeura Energy Inc. is a Canadian public company engaged in the exploration, development and production of petroleum and natural gas in Thailand and in Türkiye. The Company is pursuing a growth-oriented strategy and intends to re-invest into its producing asset portfolio and to deploy resources toward further organic and inorganic growth in Southeast Asia. Valeura aspires toward value accretive growth for stakeholders while adhering to high standards of environmental, social and governance responsibility.
Additional information relating to Valeura is also available on SEDAR+ at http://www.sedarplus.ca.
Advisory and Caution Regarding Forward-Looking Information
Certain information included in this news release constitutes forward-looking information under applicable securities legislation. Such forward-looking information is for the purpose of explaining management’s current expectations and plans relating to the future. Readers are cautioned that reliance on such information may not be appropriate for other purposes, such as making investment decisions. Forward-looking information typically contains statements with words such as ‘anticipate’, ‘believe’, ‘expect’, ‘plan’, ‘intend’, ‘estimate’, ‘propose’, ‘project’, ‘target’ or similar words suggesting future outcomes or statements regarding an outlook.
Forward-looking information in this news release includes, but is not limited to, the Manora drilling results laying the basis for further development work in the future; and management’s expectation that the newly encountered reservoir intervals will be considered in the next evaluation of reserves and could therefore be additive to the ultimate potential and economic life of the asset.
Forward-looking information is based on management’s current expectations and assumptions regarding, among other things: political stability of the areas in which the Company is operating; continued safety of operations and ability to proceed in a timely manner; continued operations of and approvals forthcoming from governments and regulators in a manner consistent with past conduct; future drilling activity on the required/expected timelines; the prospectivity of the Company’s lands; the continued favourable pricing and operating netbacks across its business; future production rates and associated operating netbacks and cash flow; decline rates; future sources of funding; future economic conditions; the impact of inflation of future costs; future currency exchange rates; interest rates; the ability to meet drilling deadlines and fulfil commitments under licences and leases; future commodity prices; the impact of the Russian invasion of Ukraine; royalty rates and taxes; future capital and other expenditures; the success obtained in drilling new wells and working over existing wellbores; the performance of wells and facilities; the availability of the required capital to funds its exploration, development and other operations, and the ability of the Company to meet its commitments and financial obligations; the ability of the Company to secure adequate processing, transportation, fractionation and storage capacity on acceptable terms; the capacity and reliability of facilities; the application of regulatory requirements respecting abandonment and reclamation; the recoverability of the Company’s reserves and contingent resources; future growth; the sufficiency of budgeted capital expenditures in carrying out planned activities; the impact of increasing competition; the ability to efficiently integrate assets and employees acquired through acquisitions; global energy policies going forward; future debt levels; and the Company’s continued ability to obtain and retain qualified staff and equipment in a timely and cost efficient manner. In addition, the Company’s work programmes and budgets are in part based upon expected agreement among joint venture partners and associated exploration, development and marketing plans and anticipated costs and sales prices, which are subject to change based on, among other things, the actual results of drilling and related activity, availability of drilling, offshore storage and offloading facilities and other specialised oilfield equipment and service providers, changes in partners’ plans and unexpected delays and changes in market conditions. Although the Company believes the expectations and assumptions reflected in such forward-looking information are reasonable, they may prove to be incorrect.
Forward-looking information involves significant known and unknown risks and uncertainties. Exploration, appraisal, and development of oil and natural gas reserves and resources are speculative activities and involve a degree of risk. A number of factors could cause actual results to differ materially from those anticipated by the Company including, but not limited to: the ability of management to execute its business plan or realise anticipated benefits from acquisitions; the risk of disruptions from public health emergencies and/or pandemics; competition for specialised equipment and human resources; the Company’s ability to manage growth; the Company’s ability to manage the costs related to inflation; disruption in supply chains; the risk of currency fluctuations; changes in interest rates, oil and gas prices and netbacks; potential changes in joint venture partner strategies and participation in work programmes; uncertainty regarding the contemplated timelines and costs for work programme execution; the risks of disruption to operations and access to worksites; potential changes in laws and regulations, the uncertainty regarding government and other approvals; counterparty risk; the risk that financing may not be available; risks associated with weather delays and natural disasters; and the risk associated with international activity. See the most recent annual information form and management’s discussion and analysis of the Company for a detailed discussion of the risk factors.
The forward-looking information contained in this new release is made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, unless required by applicable securities laws. The forward-looking information contained in this new release is expressly qualified by this cautionary statement.
This news release does not constitute an offer to sell or the solicitation of an offer to buy securities in any jurisdiction, including where such offer would be unlawful. This news release is not for distribution or release, directly or indirectly, in or into the United States, Ireland, the Republic of South Africa or Japan or any other jurisdiction in which its publication or distribution would be unlawful.
Neither the Toronto Stock Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Toronto Stock Exchange) accepts responsibility for the adequacy or accuracy of this news release.
This information is provided by Reach, the non-regulatory press release distribution service of RNS, part of the London Stock Exchange. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
SOURCE: Valeura Energy Inc.
View the original press release on ACCESS Newswire
News Provided by ACCESS Newswire via QuoteMedia
CALGARY, AB / ACCESS Newswire / March 9, 2026 / Valeura Energy Inc. (TSX:VLE,OTC:VLERF)(OTCQX:VLERF) (‘Valeura’ or the ‘Company’) acknowledges decrees pertaining to Thailand’s new fuel security measures, as signed by Thailand’s Prime Minister and published in the Royal Thai Government Gazette on 06 March 2026 (the ‘decrees’).
The decrees restrict immediately, exports of four major refined fuel categories, being gasoline/gasohol, diesel, jet A1 fuel, and liquified petroleum gas. The decrees do not impose restrictions on exporting crude oil.
Valeura intends to continue supporting Thailand’s energy security by providing a reliable stream of domestically-produced oil.
The Company continues to expect that its crude oil sales will continue to attain prevailing market pricing, with price realisations approximately equivalent to the Brent crude oil benchmark.
For further information, please contact:
|
Valeura Energy Inc. (General Corporate Enquiries) |
+65 6373 6940 |
|
Valeura Energy Inc. (Investor and Media Enquiries) |
+1 403 975 6752 / +44 7392 940495 |
Contact details for the Company’s advisors, covering research analysts and joint brokers, including Auctus Advisors LLP, Beacon Securities Limited, Canaccord Genuity Ltd (UK), Cormark Securities Inc., Research Capital Corporation, Roth Canada Inc., and Stifel Nicolaus Europe Limited, are listed on the Company’s website at www.valeuraenergy.com/investor-information/analysts/.
About the Company
Valeura Energy Inc. is a Canadian public company engaged in the exploration, development and production of petroleum and natural gas in Thailand and in Türkiye. The Company is pursuing a growth-oriented strategy and intends to re-invest into its producing asset portfolio and to deploy resources toward further organic and inorganic growth in Southeast Asia. Valeura aspires toward value accretive growth for stakeholders while adhering to high standards of environmental, social and governance responsibility.
Additional information relating to Valeura is also available on SEDAR+ at http://www.sedarplus.ca.
Advisory and Caution Regarding Forward-Looking Information
Certain information included in this news release constitutes forward-looking information under applicable securities legislation. Such forward-looking information is for the purpose of explaining management’s current expectations and plans relating to the future. Readers are cautioned that reliance on such information may not be appropriate for other purposes, such as making investment decisions. Forward-looking information typically contains statements with words such as ‘anticipate’, ‘believe’, ‘expect’, ‘plan’, ‘intend’, ‘estimate’, ‘propose’, ‘project’, ‘target’ or similar words suggesting future outcomes or statements regarding an outlook. Forward-looking information in this news release includes, but is not limited to, the Company’s intent to continue providing a reliable stream of domestically-produced oil; and the Company’s expectation that its crude oil sales will continue to attain prevailing market pricing, with price realisations approximately equivalent to the Brent crude oil benchmark.
Forward-looking information is based on management’s current expectations and assumptions regarding, among other things: political stability of the areas in which the Company is operating; continued safety of operations and ability to proceed in a timely manner; continued operations of and approvals forthcoming from governments and regulators in a manner consistent with past conduct; future drilling activity on the required/expected timelines; the prospectivity of the Company’s lands; the continued favourable pricing and operating netbacks across its business; future production rates and associated operating netbacks and cash flow; decline rates; future sources of funding; future economic conditions; the impact of inflation of future costs; future currency exchange rates; interest rates; the ability to meet drilling deadlines and fulfil commitments under licences and leases; future commodity prices; the impact of the Russian invasion of Ukraine; royalty rates and taxes; future capital and other expenditures; the success obtained in drilling new wells and working over existing wellbores; the performance of wells and facilities; the availability of the required capital to funds its exploration, development and other operations, and the ability of the Company to meet its commitments and financial obligations; the ability of the Company to secure adequate processing, transportation, fractionation and storage capacity on acceptable terms; the capacity and reliability of facilities; the application of regulatory requirements respecting abandonment and reclamation; the recoverability of the Company’s reserves and contingent resources; future growth; the sufficiency of budgeted capital expenditures in carrying out planned activities; the impact of increasing competition; the ability to efficiently integrate assets and employees acquired through acquisitions; global energy policies going forward; future debt levels; and the Company’s continued ability to obtain and retain qualified staff and equipment in a timely and cost efficient manner. In addition, the Company’s work programmes and budgets are in part based upon expected agreement among joint venture partners and associated exploration, development and marketing plans and anticipated costs and sales prices, which are subject to change based on, among other things, the actual results of drilling and related activity, availability of drilling, offshore storage and offloading facilities and other specialised oilfield equipment and service providers, changes in partners’ plans and unexpected delays and changes in market conditions. Although the Company believes the expectations and assumptions reflected in such forward-looking information are reasonable, they may prove to be incorrect.
Forward-looking information involves significant known and unknown risks and uncertainties. Exploration, appraisal, and development of oil and natural gas reserves and resources are speculative activities and involve a degree of risk. A number of factors could cause actual results to differ materially from those anticipated by the Company including, but not limited to: the ability of management to execute its business plan or realise anticipated benefits from acquisitions; the risk of disruptions from public health emergencies and/or pandemics; competition for specialised equipment and human resources; the Company’s ability to manage growth; the Company’s ability to manage the costs related to inflation; disruption in supply chains; the risk of currency fluctuations; changes in interest rates, oil and gas prices and netbacks; potential changes in joint venture partner strategies and participation in work programmes; uncertainty regarding the contemplated timelines and costs for work programme execution; the risks of disruption to operations and access to worksites; potential changes in laws and regulations, the uncertainty regarding government and other approvals; counterparty risk; the risk that financing may not be available; risks associated with weather delays and natural disasters; and the risk associated with international activity. See the most recent annual information form and management’s discussion and analysis of the Company for a detailed discussion of the risk factors.
The forward-looking information contained in this new release is made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, unless required by applicable securities laws. The forward-looking information contained in this new release is expressly qualified by this cautionary statement.
This news release does not constitute an offer to sell or the solicitation of an offer to buy securities in any jurisdiction, including where such offer would be unlawful. This news release is not for distribution or release, directly or indirectly, in or into the United States, Ireland, the Republic of South Africa or Japan or any other jurisdiction in which its publication or distribution would be unlawful.
Neither the Toronto Stock Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Toronto Stock Exchange) accepts responsibility for the adequacy or accuracy of this news release.
This information is provided by Reach, the non-regulatory press release distribution service of RNS, part of the London Stock Exchange. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
SOURCE: Valeura Energy Inc.
View the original press release on ACCESS Newswire
News Provided by ACCESS Newswire via QuoteMedia